On 9 December 2021, the Governor of the U.S. State of Arkansas signed tax reform legislation into law that provides corporate and individual income tax cuts. With regard to corporate income tax, the top tax rate is already scheduled to be reduced from 6.2% on income exceeding USD 100,000 for 2021 to 5.9% on income exceeding USD 25,000 from 1 January 2022. The reform legislation provides for a further reduction in the top rate as follows, with the USD 25,000 threshold maintained: 5.7% from 1 January 2023; 5.5% from 1 January 2024 (conditional); and 5.3% from 1 January 2025 (conditional)....